2010-07-21
Generally speaking, pensions are exempt from seizure by creditors. Creditors can put a lien on your home, but only if you own your home. You indicate in your question that you are in good standing with your mortgage, which suggests that you do own your home. If you stop paying your mortgage, the mortgagee can start proceedings to sell the property. If you stop paying your other creditors, they will likely first start calling themselves or will turn the matter over to a collection agency. They may then try to get a judgment which can be used to seize your bank account or register a lien against your home (again only if you own it). If you require any additional information or would like to discuss your options, please contact the MNP office located closest to you. Here is the link to our offices in Ontario: http://www.mnpdebt.ca/contact/ontario/default.aspx
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
